Overview
- Bitcoin is consolidating around $109,000 after rebounding from Thursday’s dip near $106,000, closing a rare negative October that Fortune ranks as the fourth weakest since 2013.
- Spot crypto ETFs saw sizable withdrawals this week, including a single day with roughly $488 million in net outflows from U.S. Bitcoin funds and $184 million from Ethereum products, with several funds recording zero inflows.
- Analysts flag $113,000 as a critical reclaim and $117,000 as the Point of Control; Glassnode warns a failure to regain those levels could expose downside toward $88,000, with support clustered at $108,000–$105,000.
- On-chain data show long-term holders have distributed about 810,000 BTC since July, yet the latest selloff was driven mainly by coins held less than 24 hours, indicating demand continues to absorb supply.
- Ethereum is holding near $3,800 support as institutional activity persists, highlighted by Bitmine’s purchase of 44,036 ETH (about $166 million), with resistance seen around $4,000–$4,150.